Century Casinos Announces Polish Casino Closures for Three Weeks in Response to COVID-19 Pandemic
Century Casinos (CNTY) announced the temporary closure of its Polish casinos from March 19 to April 9, 2021, due to government-imposed quarantines related to COVID-19. This Polish segment accounted for 1% of the Company's Adjusted EBITDA in 2020. The ongoing pandemic is expected to adversely impact the Company through at least the first half of 2021.
- None.
- Temporary closure of Polish casinos may affect revenue and operations.
- Polish segment contributed only 1% of Adjusted EBITDA, showing limited financial impact.
COLORADO SPRINGS, Colo., March 19, 2021 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company") announced today that it will temporarily close its Polish casinos at 11:59pm on March 19, 2021 through April 9, 2021, subject to potential extensions, to comply with quarantines issued by the Polish government to contain the spread of COVID-19.
The Poland operating segment contributed
The COVID-19 situation continues to evolve rapidly, and it currently appears that due to the pandemic's current scope it will adversely impact the Company at least through the first half of 2021.
About Century Casinos, Inc.:
Century Casinos, Inc. is a casino entertainment company. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada; the Century Casino in Cape Girardeau and Caruthersville, Missouri, and in St. Albert, Alberta, Canada; Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia; the Century Mile Racetrack and Casino ("CMR") in Edmonton, Alberta, Canada; and Century Bets! Inc. ("CBS"). CBS and CMR operate the pari-mutuel off-track horse betting networks in southern and northern Alberta, respectively. Through its Austrian subsidiary, Century Resorts Management GmbH ("CRM"), the Company holds a
Century Casinos' common stock trades on The Nasdaq Capital Market® under the symbol CNTY. For more information about Century Casinos, visit our website at www.cnty.com.
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, including the impact of the current coronavirus (COVID-19) pandemic on its reporting and operating segments and the Company overall. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled "Risk Factors" under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2020, and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
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SOURCE Century Casinos, Inc.
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